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Below is an Interesting article I found, which says that.....Do not " x5 V. j+ U6 u" H6 \# R$ r, L7 _
expect much from Crude Oil producers and future is not with the + B* Q! `: A _( K, f
companies producing Jet fuels but Biofuels. Also no wonder if some of
6 y/ B; k( F& w2 _7 ^0 `" Uthese oil producer will go bankrupt or out of the business even if
1 l0 F( M/ @# A# g1 Ccrude prices improves. This implies also to good names such as Shell, - S1 L# L6 ^4 g) \" ]7 U
EXXON, BG, BP, Cheveron ....xyz.. oils 1 B* E1 U: t7 X7 ?
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Recently OPEC reduced crude oil production twice over just a few / h" I l# [5 B3 B
months. There are three wars going on in Gaza, Iraq and Afghandistan. 4 a5 f" }$ I1 @) E- E
A year ago these things would have spiked the price of crude oil by at : N6 ~5 \% K4 v0 D% s' o; s
least $50.00 per barrel. Today, oil price declined by a record amount.
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% G* ?% u4 s+ w( FThere are several reasons the price of oil is decreasing in the face
, t' p- S+ Y5 Y# q! o8 Hof so much news. These reasons are:
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s4 H% Q2 i: b$ r- Y6 U8 C1. New oil has been found in Canada, Montana, North & South Dakota and
! m: |' S! c% h+ N7 L9 din the ocean near Brazil. Each of these oil fields has more oil than
5 T- r h' p4 C- L8 P& V$ F lArabia. 8 Y& F" R. a" R
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3 X. ~# \4 P+ p, {1 j/ w2 t2 d2 E, N2. New natural gas has been found in Pennsylvania and West Virginia.
9 b6 ~. B. D+ Y" x2 F$ k$ ^6 |& l TThis is the largest find in North America.
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9 d' x) L$ _- g3 A f/ j3. New methods of injecting CO2 and surfactants into oil wells is 1 F. C+ ?- X! L( U
being used to double their output.
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- Y) @$ Z, O9 L/ `: a: A) Q4 g4. Production of bio-fuels is beginning to reach critical mass. Bio
7 P: f V k3 d& t5 Y: Bfuel is being produced from many plants and algae. The production 5 Y5 g& u! |& F. w. m; T
potential per acre in some cases is astounding. Many countries are
, }+ q) K! o* p& V5 dracing to produce bio fuels. 7 R: _5 C. p# C
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3 Z0 y5 e$ Y- `" i- i5. Virtually every restaurant in the US and all food processing plants
' t6 @- u& T+ Kare now selling their used oil to bio-diesel producers. Every pork,
. Q" m D% q' i3 Q5 Gcattle, turkey and chicken processing plant will soon sell their fat
) J, Q$ ]& g5 |" }4 |0 M E/ Y R! Gto bio-diesel producers. One pork processing plant in Oklahoma is ) |- S- o9 i# s, y3 o
producing 30,000 gallons of bio-diesel per day from pork fat. / Z2 t$ F6 i1 D# S+ K" Q
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( h1 o2 z. G8 [" }' D8 v' g5 E5 `" O6. There are 99 nuclear reactors in various stages of planning and 5 V/ p' e- S* s$ Y
construction around the world at this time. Several hundred more are 2 j6 f& z& H6 o3 C% G
expected to be built in the future. Much of the energy they produce 4 V+ y9 Q( h P6 G+ n
will replace oil. : ^, q4 g1 B8 ]8 X' E4 h! y! P
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, H8 _8 |8 {5 s7. Every company in any form of transportaion business is replacing ' n! r* u9 Z9 K# W2 i7 G
older equipment such as trucks, airplanes, train engines, ships, etc.
5 T" O' }$ l) m2 f! {with new more fuel efficient equipment. Airlines and railway companies + L5 T. D& h; l! L2 m* K/ D) `$ \
are experiencing 20% to 25% better fuel econony with the new * x( T% D5 \2 z& D: O
equipment. 0 E9 A- w. T2 ]" X" i, _
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Airlines are flying airplanes with bio-fuel. They are finding the bio-
: [0 a" [$ y# i4 nfuel is cleaner and performs better than jet fuel. # y- J) m- b3 A
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8. Cities and counties throughout the US are selling the rights to 5 h9 L( M. E! V1 y
capture methane gas from landfills. This is a huge source of gas 5 |6 f$ ?/ M% ^, D# c
available at very little cost or risk. The gas is displacing crude
6 M! S, P4 o3 Goil.
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' l9 Y( R2 F! S' h1 R9. Coal is being transformed into a clean burning liquid fuel. The CO2 : b# n% f$ h9 \! v/ }; E$ y
produced as a byproduct is sold to oil companies for injection into 6 ^5 t( J- K( p
oil wells.
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10. Solar, wind and ocean energy is displacing oil as an energy
. l! P0 C4 t9 l+ c+ hsource. Three new wind turbines are being erected every day in the US.
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A1 Y8 b! i f9 HEach of the above by itself will not make a large difference in the . u8 E6 k: \; I( d2 ^$ f& |
price of crude oil but the sum of all of them together is world
( H/ H9 o J( a6 s- U+ p- ochanging. The important thing is that OPEC no longer has the ability / y3 l2 T4 D" D. W2 z' [
to control oil prices.
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8 J! t" F; E3 \" x# SWith the above scenario, I still believe that there are under . q$ ^6 P4 U$ w# I; O6 N
performed OIL companies and probably they are yet to get the justified ; p7 C9 j! s, r; A) H8 a& a: H% {0 O
value ..... / H, ?8 M1 S% d n4 L1 {3 }* n
IAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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The above articles are from WSJ .............PUBLISHED ON 9TH JAN + o9 a A1 k, [' i" X; r
2009 ... FYI-Only |
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